As NTUC Enterprise reported a new combined group revenue milestone of $7 billion amidst challenging economic conditions during its fifth Annual General Meeting (AGM), held at Orchid Country Club on 9 June 2017, it also underscored the commitment towards creating a sustainable social impact.
NTUC Enterprise Executive Director Kee Teck Koon said that NTUC social enterprises will need to invest and prepare for the fierce competition brought about by technological developments.
“Technological developments today are fast and furious. New entrants can become formidable competitors in a short time,” he explained.
Mr Kee shared how the NTUC social enterprises will be going digital in a bigger way to deliver newer and better customer experiences, reach out to digitally-savvy Singaporeans, and build upon the lead which they already have in the markets the social enterprises operate in.
Labour Movement Transformation
Reiterating the challenges and disruptions present in the rapidly changing economy, NTUC Enterprise Chairman Lim Boon Heng also called on the 200 shareholders and observers present at the AGM to think about how these changes will affect jobs.
“For our union leaders, all these changes come with dangers. What do they mean to jobs held by the members you represent? You have to think about what they mean and what you ought to do to protect the interests of your members,” said Mr Lim.
“Our social enterprises want to be among those that are digitally advanced, but for unions, you also have to think whether you are being digitally up to date,” he said, urging union leaders to think about how technology can touch the lives of their members and let them know that the unions are there for them.
Echoing what the Labour Movement has to do in order to transition into the future, NTUC Secretary-General Chan Chun Sing said: “There is very little room, if any, for us to be complacent.
“We need to build ourselves up into an attractive and credible network so that everyone else out there, who may have wanted to challenge us, will want to partner us instead. Only so, will we be able to achieve the good aims that we have set out to do: ensure a steady income for the Labour Movement and stretch the dollar for our working people.”
